Advent Payments Firm Xplor Files Confidentially for U.S. IPO
(Bloomberg) -- Xplor Technologies LLC, a payments company backed by Advent International, has confidentially filed for an initial public offering.
The Atlanta-based firm has submitted IPO documents to the U.S. Securities and Exchange Commission, according to a statement Monday, which confirmed a Bloomberg News report last month.
The company could be worth at least $4 billion and perhaps more than $6 billion, people familiar with the matter said at the time.
Advent formed Xplor through the merger this year of portfolio companies Clearent and Transaction Services Group. The combined companies served 82,000 businesses that processed more than $27 billion in payments in 2020, according to a statement announcing that deal.
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